Establishing an Aircraft Lessor Ecosystem in GIFT CITY

GIFT City will give India's aviation sector further confidence, commitment, collaboration to develop a competitive aircraft leasing hub: Civil Aviation Minister Ram Mohan Naidu.

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Union Ministry of Civil Aviation jointly with Federation of Indian Chambers of Commerce & Industry (FICCI) with the support of the International Financial Services Centre Authority (IFSCA), organised the second "India Aircraft Leasing and Financing Summit" at Gandhinagar in Gujarat. The inaugural was graced by Union Minister of Civil Aviation Shri Kinjarapu Ram Mohan Naidu.

Speaking on the occasion, Shri Ram Mohan Naidu, said that today, the GIFT City is comparable with any global financial centers. He emphasised that we are not trying to compete with anyone only complement the global centre. The idea is that we should not miss out on the huge opportunity due to the large market which can accommodate more such players. “GIFT City will give India's aviation sector the further required confidence, commitment and collaboration to develop a competitive aircraft leasing hub,” he added.

The Minister further stated that aircraft leasing is a key financial innovation that India's growing civil aviation sector needs. “Fueled by the UDAN scheme and doubling of India's airports in 10 years, India has become the 3rd largest domestic aviation market in the world,” he emphasized.